The Hong Kong Futures Exchange (HKFE) said today that it has appointed Consultancy Associates Limited (CAL) as project manager for the migration of Hang Seng Index (HSI) Futures and Options from open outcry to electronic trading on HKATS.

"We are very close to reaching our goal of becoming a fully electronic market," Chief Executive Ivers Riley noted. "Having a project manager on board is another important step in the right direction, and we are pleased that we have found such a suitable candidate for the job."

"We will use a straightforward and pragmatic project management approach which we have used successfully over many years," said CAL President and Chief Executive Officer Paul Whitmore. "We will break down the project into a number of sub-projects and consolidate them into an overall master plan which will lead to the successful implementation of the HKATS system."

Established in 1994 and based in Hong Kong, CAL specialises in strategic studies and project management in the following areas: financial services and central government, and information technology. Its Hong Kong clients have included the Government, the Hong Kong Monetary Authority, the Securities and Futures Commission, the Stock Exchange of Hong Kong and several leading blue-chip companies. Other clients have included Bank Negara Malaysia, The People's Bank of China and the World Bank.

The Hong Kong Futures Exchange is a leading futures and options marketplace in the Asia Pacific Region, with a membership of over 130 companies, including a number of major international institutions. The Exchange is actively diversifying its product base, which now includes currency, interest rate and equity-based products.

For further enquiries, please contact HKFE Corporate Communications: Mr. Mark Tung on 2842 9448 or Miss Chiu Yeung on 2842 9322.